Using dilatometric and microstructural methods, the thermokinetic diagrams of decomposition of undercooled austenite formed upon heating in the intercritical temperature range have been constructed for a group of steels with 0.05-0.10% C, 0.15-1.63% Mn, 0.17-1.18% Si, and 0.003% B. The effect of the compositions of the steels, temperature of heating in the two-phase region, and rate of subsequent cooling on the kinetics of the formation of austenite and products of its decomposition has been considered. The carbon content in austenite at different temperatures of its formation has been estimated from the position of the temperature of the onset of the martensitic transformation.